Mainland enterprises' RWA business in Hong Kong "frozen," consultation volume plummets by over 90%

According to a report by Sina Finance, recently, seven financial industry associations jointly issued a risk warning, clearly prohibiting domestic participation in virtual currency and real-world asset (RWA) token issuance and trading activities. After the regulatory clarification, mainland companies' RWA business in Hong Kong has encountered a comprehensive downturn, with industry insiders revealing that the consultation volume has plummeted by more than 90%, and many projects have been asked to pause their progress. Related concept stocks have responded by falling back, with companies like Longxin Group and Xiexin Energy Technology seeing their high points cut in half. Some enterprises have begun to explore RDA (Real Data Assets) as an alternative direction.